Microfinance Institutions provide humanitarian aid in flood-affected areas
Prioritising humanitarian assistance, microfinance institutions nationwide have offered relief and financial aid to people in flood-affected areas.
From the outset, the collection of loan instalments from all members in these areas has been suspended. In line with the government's Microcredit Regulatory Authority (MRA) directives, microfinance institutions have already begun distributing essential items, including emergency food and medicine, in coordination with local authorities.
The Credit and Development Forum (CDF), the national networking organisation for the microfinance industry in Bangladesh, is committed to providing assistance for relief operations and post-flood rehabilitation work in close collaboration with the government.
CDF has noted with great regret that certain groups have recently used various social media platforms to spread negative propaganda regarding microfinance institutions, falsely claiming that they are collecting loan instalments from those affected by the floods. CDF has expressed deep concern over these false, misleading, and malicious claims. In reality, CDF member institutions are doing their utmost to support their members and the affected communities in the flood-hit areas. At the same time, communication is being maintained with clients, and initiatives have been taken to return their savings as needed.
In this challenging situation for the country, any form of false propaganda, rumours, or intentional dissemination of misinformation could severely disrupt rescue operations, relief distribution, and post-flood rehabilitation efforts -- highly undesirable outcomes. CDF urges everyone to refrain from engaging in such harmful activities.
Representatives of Non-Governmental Organisations (NGOs) and community organisations met with the Honourable Chief Adviser of the Interim Government, Dr Muhammad Yunus. During the meeting, the Chief Adviser urged all NGOs to work together to address the severe flood affecting 11 districts in the northeastern and southeastern regions of the country. CDF member institutions are fully committed to achieving that goal.